Accounting Homework Help (HARD!)

Discussion in 'Off Topic Chat' started by Jdub777, Jul 20, 2010.

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  1. Jdub777

    Jdub777 TPF Noob!

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    Sony Company budgets payroll at $3000 per month plus a percentage of monthly sales. The june operating expense budget includes total payroll of $10500 with budgeted sales of 150,000. Sales for July are budgeted at $165000 while purchases of inventory for July are budgeted at $85,000. Depreciation and Insurance for July are estimated at $750 and $500 respectively. Expenses related to purchasing inventory are budgeted at 5% of purchases for the month. The purchase of $3000 in equiptment and $1200 in furniture is expected in July...

    The July paroll should be budgeted at what amount?

    What are the total operating expenses budgeted for July?

    THANKS FOR ALL THE HELP!

    Heres another one if you guys get bored...

    Carribbean Tool and Die Companys forecasted saled for April, May, June, July are $150000,$225000,$180000, and $210000, respectively. Sales are 50% cash and 50% credit with all accounts recieveables collected in the month following the sale. Cost of goods sold is 60% of sales and ending inventory is maintained at $85000 plus 20% of the following months cost of goods sold. All inventory purchases are paid 20% in the month of purchase and 80% in the following month.

    What are budgeted cash payments in June for inventory purchases?

    What is the balance of accounts payable on the June 30 budgeted balance sheet?
     
    Last edited: Jul 20, 2010
  2. Jdub777

    Jdub777 TPF Noob!

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    ya 49 people cant figure it out...I think the teacher f'd up this time
     
  3. UUilliam

    UUilliam TPF Noob!

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    orrr.... we dont do accounts and just wondered WTF is this about.

    :)

    I got lost at "Sony Company budgets payroll at $3000 per month plus a percentage of monthly sales."

    However, I do not do accounts.
    I mean payroll to me would be how much they pay out to workers, 3000 for a months pay between all their workers? now wtf. I wont work for sony, unless there is only 2 workers than it is not too bad.

    But IDK :D
     
  4. Jdub777

    Jdub777 TPF Noob!

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    I actually found out the answers to the first question...Its just 2a and 2b that I cant figure out.
     
  5. EIngerson

    EIngerson Been spending a lot of time on here!

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  6. sm4him

    sm4him TPF Supporters Supporting Member

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    D*mmit Jim, I'm a Photographer, not an Accountant! :lmao:

    There's another possibility: We *could* figure it out, but we're not telling you, because it's YOUR homework. I DID my accounting homework. In the 1980s. :D
     
  7. sm4him

    sm4him TPF Supporters Supporting Member

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  8. EIngerson

    EIngerson Been spending a lot of time on here!

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    Doh. lol
     
  9. runnah

    runnah Moderator Staff Member Supporting Member

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    The answer is to downsize essential employees so management can make their annual profit goals and receive bonuses.
     
  10. CCericola

    CCericola Been spending a lot of time on here!

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    The answer is 42.
     
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  11. sm4him

    sm4him TPF Supporters Supporting Member

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    It always is. :D
     
  12. KmH

    KmH Helping photographers learn to fish Supporting Member

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    Closed after cleaning out all the homework spam posts never reported that had accumulated in the 2.5 years the thread has existed.
     
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